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BEGIN:VEVENT
UID:c35c2f40ec47e0c4e1d9d79bda617c6b
CATEGORIES:Seminars
CREATED:20260902T064825
SUMMARY:Lunch Seminar: Gaetano Basso - Bank of Italy
DESCRIPTION;ENCODING=QUOTED-PRINTABLE:<p><strong><span style="font-size: 11pt; font-family: Calibri, sans-serif;"
 >Entry Regulation and Labour Market Power: Evidence from the Italian Servic
 e Sector</span></strong></p><p>Abstract:</p><p style="text-align: justify;"
 ><span lang="EN-GB" style="font-size: 11.0pt; font-family: 'Calibri',sans-s
 erif; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin
 ; mso-ansi-language: EN-GB; mso-fareast-language: IT; mso-bidi-language: AR
 -SA;">We provide new evidence on the effects of lowering barriers to firm e
 ntry on employers' monopsonistic power in the labour market. We exploit a w
 ave of product-market deregulation reforms introduced in Italian service se
 ctors between 2010 and 2015 and administrative data at both firm and worker
 -level. Combining a fine-sector index of entry regulation with a difference
 -in-differences design for continuous treatment variation, we estimate the 
 effects of deregulation on markups, wage markdowns, full-time equivalent wa
 ges, and job-separation elasticities. We find that deregulation lowered wag
 e markdowns and raised wages and employment. The decrease in employers' mon
 opsonistic power is also corroborated by an increase in labour supply elast
 icity estimated from job separations. Product-market deregulation may there
 fore improve workers' welfare by intensifying competition among employers.<
 /span></p>
DTSTAMP:20261020T161632Z
DTSTART:20261028T163000Z
DTEND:20261028T180000Z
SEQUENCE:0
TRANSP:OPAQUE
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